Business Development Bank of Canada

The Business Development Bank of Canada (BDC), established in 1944 and headquartered in Montreal, is a financial institution dedicated to supporting small and medium-sized enterprises (SMEs) across Canada. BDC offers a range of financial products and services, including business loans, corporate financing, and subordinate financing, as well as consulting services related to strategic planning, human resource management, and international expansion. With a focus on various industries such as aerospace, automotive, construction, fisheries, food and beverage, manufacturing, mining, oil and gas, technology, and tourism, BDC operates through a network of over 100 offices, providing services in both official languages.

Trevor Allibon

Managing Director, Subordinate Financing

Timothy April

Managing Director

Jack Fraser

Partner - Late Stage Growth Fund

Jasmin Ganie-Hobbs

Director of Tech Financing

Pascal Lanctot

Partner, Climate Tech Fund

Patrick Latour

SVP Growth and Transition Capital, Wholesale Financing

Nicole Leite

Principal

Vern Malcolm

Managing Director, Growth and Transition Capital

Mona Minhas

Partner

Mike Notto

Partner

Sal Rabbani

Managing Partner, Advisory Services

Andrianiaina Rajaobelina

Associate Principal

Chantal Remy

Senior Vice President, Quebec and Atlantic and Advisory Services

Kunle Tauhid

Vice President, Financing and Consulting

Maxime Tourangeau

Partner

David Wan

Director, Growth and Transition Capital

Past deals in Quebec

MultiCloud Decentralized Applications

Debt Financing in 2024
Headquartered in Montreal, Canada, MultiCloud Decentralized Applications Inc. is revolutionizing the cloud storage industry with secure, scalable, and cost-effective solutions powered by decentralized infrastructure. Our flagship product, Cloud Libertas, is a cutting-edge storage platform that offers up to 50% cost savings compared to AWS S3, eliminates data transfer fees, and ensures end-to-end encryption, unlimited API calls, and seamless multi-cloud compatibility. MultiCloud’s expertise spans major cloud platforms like AWS, Azure, and Google Cloud Platform, allowing us to design architectures that prevent vendor lock-in while optimizing performance and scalability. Beyond storage, we also develop decentralized applications (DApps) to empower businesses with enhanced privacy, security, and resilience. We are committed to advancing Web 3.0 technologies and providing innovative solutions to meet the growing demands of the digital economy. Seeking Strategic Investors MultiCloud Decentralized Applications is actively seeking angel and institutional investors to accelerate our growth and expand our transformative offerings. Join us in building the future of decentralized cloud storage and infrastructure. For investment opportunities or to discuss strategic partnerships, please reach out via LinkedIn or through the contact form on our official website.

Foodtastic

Debt Financing in 2022
Foodtastic is a Quebec-based franchisor that operates a diverse portfolio of restaurant concepts, including La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels, and Bacaro. With over 900 restaurants in its system generating more than $830 million in sales, Foodtastic is a prominent player in the restaurant industry. The company provides a variety of culinary styles and beverages, creating entertaining dining experiences for its customers. Additionally, Foodtastic is expanding its reach internationally, boasting over 100 restaurants outside of Canada.

Vosker

Debt Financing in 2021
Vosker provides remote area monitoring technology using solar power and artificial intelligence for cutting-edge surveillance solutions. It offers mobile security cameras that operate on 4G/LTE networks and are powered by solar energy, providing surveillance capabilities. These cameras are primarily used in various industries. Vosker was founded in 2018, and headquartered in Victoriaville, Quebec.

Booxi

Seed Round in 2021
Booxi is a retail-tech company based in Montreal, Quebec, that specializes in an appointment booking platform tailored for retailers. The platform includes a range of features designed to enhance business management, such as Customer Relationship Management (CRM), appointment scheduling, online payment processing, and staff calendar management. By integrating these functionalities, Booxi aims to improve customer experience and streamline operational processes associated with event and appointment management, making it easier for retailers to manage their appointments effectively.

Deeplite

Seed Round in 2021
Deeplite is a Montreal-based company that specializes in optimization software for deep learning applications, focusing on the deployment of deep neural networks (DNN) on both cloud and edge devices. The company's flagship product, Neutrino, utilizes a proprietary AI engine to automatically streamline DNN models, making them smaller, faster, and more energy-efficient. This technology addresses common challenges associated with deep learning, such as the size and speed of models, which can hinder deployment on smaller hardware and impact battery life in devices. Deeplite's solutions are applicable across various sectors, including automotive, smartphones, smart cameras, and IoT devices, thereby enabling efficient AI integration in everyday technology. By leveraging advancements in tinyML and a unique design space exploration approach, Deeplite empowers clients to optimize their AI investments and enhance their deep learning capabilities.

Budge Studios

Venture Round in 2021
Budge Studios Inc. is a Montreal-based company that develops and publishes children's applications for smartphones and tablets. Founded in 2010, the company offers a diverse portfolio of entertaining and educational apps that feature a mix of original and branded content, including popular characters such as Barbie, Thomas & Friends, and Hello Kitty. Budge Studios aims to create safe and age-appropriate gaming experiences for children, fostering creativity and innovation through its engaging puzzles and games. Additionally, the company runs the Budge Playgroup program, which allows parents to participate in the development of new apps, enhancing the creative process.

Aifred Health

Seed Round in 2020
Aifred Health Inc. is a Montreal-based company that specializes in developing a deep-learning clinical decision support tool aimed at enhancing personalized medicine in psychiatry. Founded in 2017, Aifred Health addresses the longstanding challenges associated with the trial-and-error approach to treatment selection in depression, which is a leading cause of medical impairment. The company's application software features treatment prediction, interpretability, patient data tracking, and electronic patient record capabilities. By processing de-identified data, Aifred's AI model generates tailored therapeutic options for individual patients, enabling clinicians to make more informed decisions among various treatment options that may appear effective at a population level but vary significantly in effectiveness for individuals.

Local Logic

Series A in 2020
Local Logic is a location intelligence platform based in Montreal, Quebec, that specializes in digitizing the built environment to provide actionable insights for consumers, investors, developers, and governments. By leveraging artificial intelligence and geospatial data, the platform quantifies lifestyle and location characteristics, offering predictive analytics that inform decision-making in the real estate sector. With access to over 75 billion data points, Local Logic supports clients in the $217 trillion real estate market across the US and Canada, providing tools for urban planning and project strategy. The company collaborates with various stakeholders, including commercial real estate, travel, and media firms, to enhance the planning and development of sustainable and equitable urban spaces.

Busbud

Series C in 2020
Busbud is a mobile app and platform that connects passengers to bus operators. It enables its users to search, compare, and book city-to-city bus tickets for any location and from any location. It is a comprehensive source of city-to-city bus schedules and tickets around the world, gathering schedules for over 10463 cities in 89 countries, in 10 languages, and 15 currencies. The app offers a search tool allowing travelers to discover and plan their next bus trip. Busbud was founded by Michael Gradek, LP Maurice, and Frederic Thouin in October 2011. It is headquartered in Montreal City in Québec, Canada.

Effenco

Series B in 2020
Effenco is an autotech company focused on the electrification of heavy-duty vehicles and connected mobility within the transport sector. Established in 2006 and headquartered in Montréal, Quebec, the company has developed the Active-Stop-Start electric hybrid technology, which enhances the energy efficiency of heavy goods vehicles and reduces greenhouse gas emissions by 30%. This innovative system utilizes ultracapacitor-based technology to electrify the propulsion and on-board equipment of vocational trucks. Effenco's solution automatically shuts down the engine when vehicles are stationary, providing electric power to essential systems such as heating, ventilation, and air conditioning. By eliminating engine use during idling, the technology significantly lowers operational costs and environmental impact, making it an attractive option for both existing and new heavy-duty vehicles. Effenco operates in the United States and Europe, leveraging extensive real-world operating data and advanced AI algorithms to support its mission of fostering a sustainable future in the transport industry.

Flyscan

Venture Round in 2020
Flyscan Systems Inc. is a Québec-based company established in 2015, specializing in the development of airborne technology for detecting oil leaks in pipelines. The company's innovative platform automates the identification of small oil leaks and offers various visual inspection functions tailored for the energy sector. By utilizing industrial optics and photonics systems mounted on airborne vehicles, Flyscan provides remote detection services that enable clients to monitor underground pipelines effectively. This technology helps clients promptly address any leakages, thereby mitigating potential environmental damages.

Deeplite

Seed Round in 2020
Deeplite is a Montreal-based company that specializes in optimization software for deep learning applications, focusing on the deployment of deep neural networks (DNN) on both cloud and edge devices. The company's flagship product, Neutrino, utilizes a proprietary AI engine to automatically streamline DNN models, making them smaller, faster, and more energy-efficient. This technology addresses common challenges associated with deep learning, such as the size and speed of models, which can hinder deployment on smaller hardware and impact battery life in devices. Deeplite's solutions are applicable across various sectors, including automotive, smartphones, smart cameras, and IoT devices, thereby enabling efficient AI integration in everyday technology. By leveraging advancements in tinyML and a unique design space exploration approach, Deeplite empowers clients to optimize their AI investments and enhance their deep learning capabilities.

Zetane

Debt Financing in 2020
Zetane Systems is a Montreal-region software technology company specializing in commercial applications of artificial intelligence (AI). Zetane AI development engine is proprietary software that provides a visual, intuitive, and collaborative environment for businesses to build AI solutions and products based on machine learning models. The company aims to make the development of AI solutions more accessible to AI teams in businesses and promote abilities to explain the inner workings of complex neural networks to address “black box” concerns, increase stakeholder buy-in, reduce time to market, and mitigate risks prior to deployment. In addition to selling powerful software, the company also provides a full suite of consulting services to facilitate the adoption of AI solutions in diverse industries.

WeCook - Repas WeCook

Venture Round in 2020
Founded in 2013, WeCook Meals (formerly Nutrition Fit Plus) is a leader in home meal delivery, offering a wide range of tasty, balanced and personalized healthy meals made with fresh produce and meat, and healthy snacks. Subscribers can order from a diversified weekly menu. The Dorval-based company has over 450 employees serving Québec and Ontario.

SuccessFinder

Venture Round in 2019
SuccessFinder is a technology company that specializes in human resources. Through its cloud-based talent assessment and career success prediction platform, Success Finder leverages relevant predictive analytics powered by algorithms. This platform makes decisions across the employee lifecycle, from recruiting to development, performance, and succession. SuccessFinder can predict career satisfaction based on discriminating factors like human behavior and competencies. It was founded on 2017 and is headquartered in Montréal, Quebec.

Sofdesk

Series B in 2019
Sofdesk Inc. is a software company based in Montreal, Canada, that specializes in developing sales acceleration solutions for the solar, roofing, and utilities sectors. Founded in 2013, the company provides intuitive web applications designed to help small to medium-sized businesses enhance their infrastructure and scale operations. Its flagship products include SolarGraf, which assists solar installers in managing leads and proposals, and RoofGraf, tailored for roofing companies to streamline their business development efforts. By offering centralized and user-friendly tools, Sofdesk aims to reduce operational costs and improve efficiency in these industries.

Element AI

Series B in 2019
Element AI Inc. is an artificial intelligence company that provides solutions for organizations seeking to leverage AI and machine learning technologies. Founded in 2016 and headquartered in Montreal, Canada, with an additional office in Toronto, the company operates an AI as a Service (AIaaS) platform, allowing businesses to launch and incubate AI solutions in collaboration with large corporations. Element AI focuses on delivering AI software products that enhance decision-making and operational efficiency across various sectors, including insurance, banking, manufacturing, logistics, retail, and consumer packaged goods. The company emphasizes research and development, maintaining strong ties to academia, and engages in policy discussions regarding the societal impacts of technology. Through its offerings, Element AI aims to help clients unlock insights, accelerate the adoption of AI, and improve overall business performance with explainable solutions.

Pit Caribou

Venture Round in 2019
Pit Caribou is a microbrewery founded in 2007, located in L'Anse à Beaufils on the Gaspé Peninsula in Quebec. The brewery focuses on crafting quality beers that reflect the resources of the Gaspé region. It offers a diverse selection of wheat and red beers in various flavors, catering to a wide range of customer preferences. In addition to its production facilities, Pit Caribou operates pubs in both Percé and Montreal, providing venues for patrons to enjoy their products. The establishment includes a shop for purchasing bottled beers and a patio that allows visitors to savor their brews by the sea. The company currently employs 37 people, contributing to the local economy and community.

Strato Automation

Venture Round in 2019
Based in the heart of Montreal, Strato Automation’s mission is to develop and market the most simple, open and smart building control products on the market, to benefit building owners and their occupants.

Groupe JLD Laguë

Private Equity Round in 2019
JLD - Laguë is a distributor of agricultural, commercial, and construction equipment in Quebec and Ontario. The company supplies a wide range of machinery, including tractors, mowers, forage harvesters, combine harvesters, balers, snowblowers, and various types of utility vehicles. In addition to equipment distribution, JLD - Laguë offers financing services to help clients acquire heavy trucks and related parts. The company distinguishes itself from competitors by actively pursuing innovative technological advancements to enhance its product offerings, ensuring that it meets the diverse needs of its customers in agricultural, snow removal, landscaping, and maintenance sectors.

H2O Innovation

Post in 2018
H2O Innovation Inc. is a Canadian company specializing in integrated water treatment solutions utilizing membrane filtration technology. It operates through three primary segments: Water Technologies and Services, Specialty Products, and Operation and Maintenance Services. The company provides systems and equipment for producing drinking and industrial process water, as well as for the reclamation, reuse, and desalination of water. In addition to offering membrane filtration systems and spare parts, H2O Innovation supplies specialty chemicals such as antiscalants, cleaners, and coagulants. The company also provides a range of services, including operation and maintenance for water treatment facilities, public works services, and construction for water and sewer lines. Its innovative technologies, such as Intelogx for data analysis and Clearlogx for automation, enhance the efficiency of water treatment processes. Founded in 2000 and headquartered in Quebec City, H2O Innovation has established itself as a leader in the water treatment industry, continuously expanding its market presence through a comprehensive range of products and services.

Angiochem

Series C in 2018
AngioChem Inc. is a clinical-stage biotechnology company based in Montreal, Canada, focused on discovering and developing innovative peptide drug conjugates aimed at treating neurological diseases. The company specializes in overcoming the challenges posed by the blood-brain barrier, using its proprietary EPiC platform, which employs a receptor-based approach to facilitate drug delivery to the central nervous system. AngioChem's product pipeline includes ANG1005, a taxane derivative designed to target brain cancer cells, and ANG4043, an anticancer therapy for breast cancer metastases in the brain. Additionally, the company develops peptide antibody conjugates and neurotensin derivatives for managing pain, as well as treatments for lysosomal storage diseases. Founded in 2003, AngioChem is committed to addressing significant medical needs in the realm of CNS disorders.

Keatext

Seed Round in 2018
Keatext Inc. is a Montreal-based company that offers a cloud-based text analytics platform designed to enhance business performance by analyzing customer feedback from various sources. Established in 2010, Keatext utilizes artificial intelligence and natural language processing to synthesize large volumes of unstructured data, such as open-survey responses, online reviews, chat logs, and social media posts. The platform provides clients with actionable insights through a comprehensive dashboard, enabling them to understand customer sentiments and identify key areas for improvement. By delivering instant clarity on customer preferences and needs, Keatext empowers businesses to cultivate meaningful relationships with their customers and respond effectively to their feedback.

SpherePlay

Venture Round in 2017
SpherePlay creates, delivers, and monetizes VR experiences across all platforms. Its solution is a suite of VR media players that enables broadcasters, publishers and commercial content distributors to integrate virtual reality experiences to their existing media distribution workflow via their own apps and websites. The company was founded in 2014 and is headquartered in Montréal, Quebec.

Transit

Series A in 2017
Transit is a mobile app intended to help its users navigate their cities. Transit simplifies local travel in 125 cities worldwide. Upon launch, the bright, intuitive interface shows all nearby transportation options and departures. Users can plan trips, set reminders, and get notifications about disruptions. Plus, Transit also integrates other sustainable transport modes -- bike sharing, car sharing and Uber -- so users can determine the best way to get from A to B. With millions of active users in the US and Canada, Transit has emerged as the leading urban transit app in North America. The company is based in Montreal, Quebec.

Element AI

Series A in 2017
Element AI Inc. is an artificial intelligence company that provides solutions for organizations seeking to leverage AI and machine learning technologies. Founded in 2016 and headquartered in Montreal, Canada, with an additional office in Toronto, the company operates an AI as a Service (AIaaS) platform, allowing businesses to launch and incubate AI solutions in collaboration with large corporations. Element AI focuses on delivering AI software products that enhance decision-making and operational efficiency across various sectors, including insurance, banking, manufacturing, logistics, retail, and consumer packaged goods. The company emphasizes research and development, maintaining strong ties to academia, and engages in policy discussions regarding the societal impacts of technology. Through its offerings, Element AI aims to help clients unlock insights, accelerate the adoption of AI, and improve overall business performance with explainable solutions.

Soundbite Medical Solutions

Seed Round in 2016
Soundbite Medical Solutions Inc. is a cardiovascular medical technology company based in Montreal, Canada, established in 2013. The company specializes in the development and commercialization of a proprietary wire-based device and generator console that delivers safe shockwave energy within the cardiovascular system. This technology is specifically designed to treat chronic total occlusions (CTOs), which are blockages in the arteries that can lead to serious health issues. Soundbite Medical Solutions targets patients suffering from peripheral artery disease (PAD) and coronary artery disease (CAD), conditions that affect millions of individuals in the United States. By focusing on innovative solutions for vessel preparation, the company aims to enhance treatment options for these prevalent cardiovascular diseases.

Quartz Co.

Private Equity Round in 2015
Quartz Co. designs and manufactures insulated winter coats for both men and women, along with accessories such as scarves, woolen hats, and bags. The company caters to a diverse international market, selling its products in countries including France, Germany, Japan, Russia, Hong Kong, South Korea, Norway, the United States, Canada, and Switzerland. Established in 1997 and based in Montreal, Canada, Quartz Co. was originally known as Quartz Nature Inc. before rebranding in 2015. The company emphasizes creating modern outerwear that blends timeless design with high performance and sustainable practices, targeting consumers who embrace an active northern lifestyle.

Budge Studios

Private Equity Round in 2015
Budge Studios Inc. is a Montreal-based company that develops and publishes children's applications for smartphones and tablets. Founded in 2010, the company offers a diverse portfolio of entertaining and educational apps that feature a mix of original and branded content, including popular characters such as Barbie, Thomas & Friends, and Hello Kitty. Budge Studios aims to create safe and age-appropriate gaming experiences for children, fostering creativity and innovation through its engaging puzzles and games. Additionally, the company runs the Budge Playgroup program, which allows parents to participate in the development of new apps, enhancing the creative process.

Provender

Seed Round in 2014
Provender is an online platform that enables farmers to create direct-trade associations with buyers. The platform allows farmers to quantify and organize their yields, and make that data accessible to buyers everywhere. Provender was founded in April 2013 and is based in Montréal, Quebec.

FounderFuel

Convertible Note in 2012
FounderFuel is a mentor-driven venture accelerator based in Montreal, Canada, founded in 2011 by Real Ventures. The company offers a four-month intensive program designed to support new startups in their development journey. Through access to a network of experienced entrepreneurs, operators, and executives, FounderFuel helps participating companies refine their visions, expand their networks, and accelerate their progress. The program emphasizes technology, with a particular focus on leveraging artificial intelligence and machine learning. By providing seed funding and strategic guidance, FounderFuel aims to empower startups to navigate the challenges of the venture landscape effectively.

Audiokinetic

Venture Round in 2007
Audiokinetic Inc. specializes in providing audio solutions for the interactive media and gaming industries, both in Canada and internationally. Founded in 2000 and headquartered in Montreal, the company is best known for its flagship product, the WaveWorks Interactive Sound Engine (Wwise), which serves as an audio pipeline solution. Wwise features an optimized sound engine for managing audio processing and offers an event-based authoring tool for creating complex audio structures, integrating interactive music, and managing sound integration. Additionally, Audiokinetic develops various add-ons such as Wwise Convolution for reverberation effects, SoundSeed for interactive sound generation, and Wwise Motion for real-time audio authoring. The company also provides consulting services, including custom tool development, project support, and sound engine integration. Audiokinetic has established itself as a leader in audio technology for gaming, offering a comprehensive suite of tools designed to enhance the immersive experience of video games.

Topigen Pharmaceuticals

Series B in 2005
Topigen Pharmaceuticals is a biotechnology company that is focused on the scientific research and development of therapeutic drugs. It develops treatments for respiratory disorders, including asthma and chronic obstructive pulmonary disease. Topigen Pharmaceuticals offers TPI ASM8, a drug that is developed for the management of moderate to severe asthma; and TPI 1100, a drug that is developed for the chronic obstructive pulmonary disease. Topigen Pharmaceuticals was acquired by Pharmaxis in January 2010. Topigen Pharmaceuticals was founded in 2000 and is based in Montreal, Quebec.

Topigen Pharmaceuticals

Venture Round in 2004
Topigen Pharmaceuticals is a biotechnology company that is focused on the scientific research and development of therapeutic drugs. It develops treatments for respiratory disorders, including asthma and chronic obstructive pulmonary disease. Topigen Pharmaceuticals offers TPI ASM8, a drug that is developed for the management of moderate to severe asthma; and TPI 1100, a drug that is developed for the chronic obstructive pulmonary disease. Topigen Pharmaceuticals was acquired by Pharmaxis in January 2010. Topigen Pharmaceuticals was founded in 2000 and is based in Montreal, Quebec.

Chronogen

Series B in 2003
Chronogen Inc. a biotechnology company headquartered in Montreal, Canada.

Ltrim Technologies

Series B in 2003
LTRIM Technologies is a development-stage fabless semiconductor company, engaged in the design and development of high-performance analog integrated circuit products. It was founded in October 1998 by Physics Engineer Yves Gagnon, Professor Yvon Savaria PhD, and Professor Michel Meunier PhD. The company was conceived to commercialize the results of a three-year R & D project carried out by the founders at the École Polytechnique of Montréal (one of Canada's leading post-secondary engineering institutions) between January 1998 and May 2000.

ConjuChem

Series B in 1999
ConjuChem, LLC is a biotechnology company based in Los Angeles, California, focused on the discovery and development of innovative therapeutics, particularly for diabetes. Originally established as ConjuChem Biotechnologies Inc. in Montreal, Quebec, the company employs its proprietary Drug Affinity Complex (DAC) and Preformed Conjugate-Drug Affinity Complex (PC-DAC) technology platforms to enhance the therapeutic potential of peptides. These platforms enable the creation of new drugs that maintain similar therapeutic activities while extending their duration of action and improving safety profiles. ConjuChem's product pipeline includes CJC-1134-PC, a modified Exendin-4 analogue for type 2 diabetes, a PC-DAC insulin product, and a DAC conjugate aimed at controlling HIV-1 infection. The company is actively involved in research programs and considers partnerships with other biopharmaceutical firms for further development and commercialization of its innovations.
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